West Conshohocken, Pennsylvania based Madrigal Pharmaceuticals, Inc. (MDGL - Free Report) is developing small molecule drugs to treat cardiovascular, metabolic, and liver diseases. The company’s lead pipeline candidate- MGL-3196, is being evaluated for non-alcoholic steatohepatitis (“NASH”), a liver disease. The company is also evaluating the candidate for the treatment of heterozygous familial hypercholesterolemia (“HeFH”)
Madrigal’s earnings track record has been decent so far with a four-quarter average positive earnings surprise of 20.17%. The company beat estimates thrice in the four trailing quarters. Estimates have remained stable over the past one month.
Currently, Madrigal has a Zacks Rank #3 (Hold) but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Madrigal reported a loss of 45 cents in the second quarter of 2018 which was narrower than the Zacks Consensus Estimate of loss of 56 cents.
Revenues: The company did not report any revenue in the reported quarter.Research and Development (R&D) expenses decreased 25% year over year to $5.1 million. General and administrative expenses increased 68.8% year over year to $2.7 million.
Share Market Activity: There was no movement in share price in pre-market trading.
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